North America Crude Oil Marketing - January 2009 Summary California Bulletins 09-CA1 to 09-CA20, with Monthly Averages

Chevron has changed its posted prices as shown below: Effective 7:00 AM on the above listed effective date, subject to change without notice, Chevron will pay the following prices per barrel for crude oil and condensate delivered for its account into the custody of its authorized carrier or receiving agent. Prices are subject to deduction for transportation and other charges where applicable. Prices for oil apply to quantities measured by approved automatic custody transfer facilities or 100% tank table with customary adjustment of volume and gravity for temperature and full deduction for sediment and water.

* Prices are subject to a Gravity Adjustment Scale

California	API	CA1 01/02	CA2 01/05	CA3 01/06	CA4 01/07	CA5 01/08	CA6 01/09	CA7 01/12	CA8 01/13	CA9 01/14	CA10 01/15	CA11 01/16
Buena Vista Hills		39.25	41.70	41.45	35.65	34.75	33.90	30.80	31.05	30.60	28.85	30.00
Coalinga		33.80	36.25	36.00	30.20	29.30	28.45	25.35	25.60	25.15	23.40	24.55
Huntington Beach		34.15	36.60	36.35	30.55	29.65	28.80	25.70	25.95	25.50	23.75	24.90
Kettleman Hills		42.80	45.25	45.00	39.20	38.30	37.45	34.35	34.60	34.15	32.40	33.55
Lost Hills		41.00	43.45	43.20	37.40	36.50	35.65	32.55	32.80	32.35	30.60	31.75
McKittrick		33.05	35.50	35.25	29.45	28.55	27.70	24.60	24.85	24.40	22.65	23.80
Midway Sunset		33.05	35.50	35.25	29.45	28.55	27.70	24.60	24.85	24.40	22.65	23.80
Seal Beach		38.80	41.25	41.00	35.20	34.30	33.45	30.35	30.60	30.15	28.40	29.55

California	API	CA12 01/20	CA13 01/21	CA14 01/22	CA15 01/23	CA16 01/26	CA17 01/27	CA18 01/28	CA19 01/29	CA20 01/30		Mthly Avg
Buena Vista Hills		32.30	37.20	37.35	40.35	39.70	35.65	36.35	35.70	36.20		36.7797
Coalinga		26.85	31.75	31.90	34.90	34.25	30.20	30.90	30.25	30.75		31.3484
Huntington Beach		27.20	32.10	32.25	35.25	34.60	30.55	31.25	30.60	31.10		31.6703
Kettleman Hills		35.85	40.75	40.90	43.90	43.25	39.20	39.90	39.25	39.75		40.3172
Lost Hills		34.05	38.95	39.10	42.10	41.45	37.40	38.10	37.45	37.95		38.5234
McKittrick		26.10	31.00	31.15	34.15	33.50	29.45	30.15	29.50	30.00		30.6000
Midway Sunset		26.10	31.00	31.15	34.15	33.50	29.45	30.15	29.50	30.00		30.6000
Seal Beach		31.85	36.75	36.90	39.90	39.25	35.20	35.90	35.25	35.75		36.3109

Note: Prices in $/bbl

Measurement The prices are based upon computation of quantities by mutually acceptable automatic measuring equipment in accordance with the latest ASTM Standards and API Manual of Petroleum Measurement Standards (MPMS) generally accepted in the petroleum industry with deductions for full sediment, water and other impurities.